Real Estate Meets Insight: Turning Data Into Decisions – Rob Thompson, Realtor®, Iconic Colorado Properties, LLC
Pricing your home matters. In the sixth week, homes have lost 4.27% of their list price in the Colorado Springs region. Who’s landing? When we look at the stats, remember we are only measuring who “landed”, who successfully sold. Nearly 49% of the market isn’t making it to the finish line right now. Seller’s concessions […]
As of this year, Gen Z (those born between 1997 and 2012) has officially surpassed the Baby Boomers (born 1946 to 1964) in terms of workforce participation, marking a significant demographic shift in the labor market. While this generational change represents a new era for many industries, the question arises: will Gen Z “save” the […]
How much does home pricing matter in the Colorado Springs region right now? A lot. Pricing your home too high for the market or the condition can cost you a lot. An analysis of the last 90 days in our market showed the following stats: There were 909 homes sold in 0-7 days for 99.8% […]
When we quote statistics in the real estate industry, we most usually quote the metrics that reflect the successful sales. This is the way most are trained. However, in doing this type of analysis, it’s important to consider survivorship bias. What is this bias? It’s the tendency to consider only the successful set of data […]
How does one measure equity gain? A very common measure is the average or median sale price of a home over a period of time. Here are the last 3 years average and median prices in the area: Evaluating this chart we could read that the average closed price over the last several years has […]
What’s the state of inventory in El Paso County (EPC), Colorado, for Single Family Homes (SFHs)? As we sit here on 2 July 2024, we have app 2,021 active SFHs in EPC. If we look at total units by month in EPC since Oct 2015, here’s how that looks. We are sitting at 2,542 units.
Good morning! As we roll into June 2024, let’s take a quick look at the market for the Colorado Springs region. We leave May ’24 with a median price of $465K, down $5K from April 2024 but up $10K from May ’23. Our average price is $532K, down $5K from April 2024 but up app. […]
As we roll into May, let’s take a look at April 2024. Below you see the history of April(s) since 1996. Here’s how to read this: April 2024 saw a 6% gain over the average sale price of April 2023, which itself saw a 6% decline over the preceding year. This happened despite the number […]
TLDR; those who can buy a house are buying a house This is a snapshot from Odin, my real estate analytics dashboard. This is a look at the last 30 days in El Paso County for Single Family Homes. Here’s the takeaway for you from this: The average price of a SFH in El Paso […]
Are we in a seller’s market? A buyer’s market? Yes. On the surface, we are in a seller’s market. We have 2.02 months worth of Single Family Homes (SFHs) on the market in El Paso County (EPC). A balanced market is said to have 5 to 6 months inventory of homes. According to this measure, […]